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How To Insure A Vintage Motorcycle
If you own a vintage motorcycle, you are going to need vintage motorbike insurance. Unfortunately, not all insurance companies offer coverage for classic motorcycles. For this reason, you might have to shop around for classic motorbike insurance, as opposed to simply going with your regular vehicle insurance provider.Where to Get Classic Motorbike Insurance
Many of the big-name, national insurance companies provide classic motorbike insurance. You can compare vintage motorcycle insurance rates online, or by contacting the Insurance Department in your state. You can also talk to other classic motorbike owners for firsthand experiences with insurance providers.
Questions to Ask Before Insuring a Vintage Motorcycle
When speaking to a potential insurance provider―in addition to another classic motorbike owner―asking the following questions will help you make and informed decision:
- How much liability insurance do you recommend?
- If I am involved in an accident, will my insurance premium increase?
- Do you recommend custom parts and equipment (CPE) insurance for my particular bike?
- Is there a limit to the number of miles I can ride on my insurance policy?
Required Liability Insurance for Motorcycles
The amount of liability insurance you need depends on several factors―such the type of bike you ride and how many miles you ride per year―but you should consider purchasing more than the required state minimum.
For example, if you live in New Jersey, where the minimum requirement for liability insurance is $30,000 in bodily injury coverage and $5,000 in property damage coverage, this minimum amount will hardly be enough to cover you in the event of a serious accident.
Auto insurance professionals recommend carrying at least $300,000 in bodily injury protection, and $100,000 in property damage protection.
Collision and CPE Insurance for Classic Motorcycles
On the other hand, you will typically not need collision insurance, as replacement parts for classic motorcycles are comparatively inexpensive.
What you will want to consider is accessory or custom parts and equipment (CPE) coverage. The purpose of CPE coverage is to cover damages to custom parts and classic motorbike accessories added after the motorbike left the factory floor. Talk to your potential insurance provider regarding CPE insurance options for your classic motorbike.
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- How To Choose A Motorcycle Insurance Provider
Tips On Choosing A Motorcycle Insurance Provider Offering Quality Motorbike Insurance Coverage. Find An Insurance Company With Solid Insurance Ratings And Competitive Insurance Rates.
- How To Cancel A Motorcycle Insurance Policy
Steps On Canceling A Motorcycle Insurance Policy. Ensure You Have Adequate Motorbike Insurance Coverage Before Ending One Policy And Starting Another.
- How To Change Motorcycle Insurance Providers
Info On How To Change Motorcycle Insurance Providers. Shop Online And Compare Motorbike Insurance Rates Before You Switch. Gathering Insurance Quotes Online Save Time And Money.
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